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Swing Trade Idea – November 25, 2022

Market Setup- Pre 830

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Neutral global set-up

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields are flat

•US$ +.05% Euro -.13% Yen 0.02% GBP +.21%

News: USA: quiet markets close at 1:00 pm ET Europe: German GDP q/q 0.4% vs 0.3% China: Cuts reserve requirement ratio by 0.25%, Banks pledge $162B credit to developers

Stocks: COUP +3.3% Potential takeover; MANU +8% takeover spec; ATVI -4% Politico post  that FTC will file lawsuit; AAPL -1% Spec of a 30% production hit due to China unrest; TSLA +2% Elon: FSD beta avail USA, China recall

General: Leading: Brazil, Oil producers, Materials, Europe Lagging:  China, lithium, QQQ

•Indices: The global indices are consolidating however the US$ and yields are rising in the premarket this may lead to a weakness at the open. The SPY displays $402 with a of resistance $403 and $405 with a support of $402, $400 and $395. The QQQ $288 displays a resistance of $287.5 and $290 with a support of $285.  The SPY ranges from $405-$395 and in my opinion is expected with $400 being the key pivot level. Liquidity is low so in my opinion, I can expect larger moves.  AAPL and TSLA are my 2 key stocks in today’s trade.

•Stocks to watch  TSLA DVN FCX LVS  ATVI AAPL BABA Spec Names MANU FREY ZIM

Pre-800ET

Earnings LU

Indices EWZ XOP XLE XLB XLY EFA ARKK IWM KWEB LIT QQQ /btc

S&P500 TSLA DVN LVS APA LIN MRO FCX BKR EOG ATVI ALB

IWM ADTN SMCI PBF FRO LTHM

WSB TSLA RIVN UPST BABA

Movers MANU VOD EQNR PBR BEKE QURE SNN DB SBLK AU FREY LVS ZIM BILI EURN ATVI FLNG JD GDS BABA LAC

My Trade Idea: AAPL
In my opinion, AAPL is in play as the disruption at China Foxconn factory is raising concerns for production.  I will consider the straddle approach: long > $150 and fade < $149. If the market is strong today, I believe that AAPL will likely bounce and converse.